The Indianapolis Colts are offering cornerback Stephen Gilmore a two-year, $23 million contract that includes a $14 million guarantee, a source told ESPN's Adam Schaffter.
Gilmore became the second veteran this week in Colts secondary, after Indianapolis signed safety Rodney McLeod on Thursday.
The cornerback Colts needed condition was when they traded starter Rock Ya-Syn to the Las Vegas Raiders for pass-rusher Yannick Ngakou and never re-signed starter Xavier Rhodes.
The Colts have revamped their defense after the departure of coordinator Matt Eberfluss, who is now head coach at Chicago, and hired Gus Bradley as his replacement.
The Indianapolis defense now has one of the league's best slot corners in five-time pro bowler Gilmore, Ngakou and DeForest Buckner, linebackers Darius Leonard and Kenny Moore on the line. All five of those players have been selected for at least one Pro Bowl in their careers.
Gilmore played the 2021 season with the Carolina Panthers, who traded a 2023 third-round pick to get the New England Patriots in October. The Panthers added the 2019 NFL Defensive Player of the Year in hopes that he could replace first-round pick Jesse Horn, who suffered a season-ending leg injury in Week 3 at the Houston Texans.
Gilmore, 31, was physically unable to perform on the list upon arrival at Carolina, still recovering from offseason surgery on a torn quad and was not eligible to return until Week 6. He was active in Week 8 and played the final eight games, starting three. He made one interception in his Carolina debut in Atlanta to maintain a 19–13 victory, followed by another in his home debut against New England. After the season, he was alternately added to the Pro Bowl.
He said after the trade that he did not appreciate the way New England handled their quad injury in Week 15 of the 2020 season.
Gilmore, who grew up in Rock Hill, South Carolina, told ESPN before a late-season game in Buffalo that he would like to return to Carolina. The Panthers liked the experienced leadership brought up in the young Carolina secondary. The issue was complained of by 2018 second-rounder Donnett Jackson, 26, who last month re-signed with the Panthers on a three-year deal.
The 10th overall pick in the 2012 draft by the Bills, Gilmore has 27 interceptions and defended 116 passes in 10 seasons.